GREENBRIER COMPANIES INC Fair Value Disclosure
Note 21 – Fair Value Measures
Certain assets and liabilities are reported at fair value on either a recurring or nonrecurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, under a three-tier fair value hierarchy which prioritizes the inputs used in measuring a fair value as follows:
Level 1 - observable inputs such as unadjusted quoted prices in active markets for identical instruments;
Level 2 - inputs, other than the quoted market prices in active markets for similar instruments, which are observable, either directly or indirectly; and
Level 3 - unobservable inputs for which there is little or no market data available, which require the reporting entity to develop its own assumptions.
Assets and liabilities measured at fair value on a recurring basis as of August 31, 2025 are:
(In millions) |
|
Total |
|
|
Level 1 |
|
|
Level 2(1) |
|
|
Level 3 |
|
||||
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Derivative financial instruments |
|
$ |
19.0 |
|
|
$ |
— |
|
|
$ |
19.0 |
|
|
$ |
— |
|
Nonqualified savings plan investments |
|
|
59.4 |
|
|
|
59.4 |
|
|
|
— |
|
|
|
— |
|
Cash equivalents |
|
|
134.0 |
|
|
|
134.0 |
|
|
|
— |
|
|
|
— |
|
|
|
$ |
212.4 |
|
|
$ |
193.4 |
|
|
$ |
19.0 |
|
|
$ |
— |
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Derivative financial instruments |
|
$ |
3.6 |
|
|
$ |
— |
|
|
$ |
3.6 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
0 |
|
|
|
|
|||
Assets and liabilities measured at fair value on a recurring basis as of August 31, 2024 are:
(In millions) |
|
Total |
|
|
Level 1 |
|
|
Level 2(1) |
|
|
Level 3 |
|
||||
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Derivative financial instruments |
|
$ |
24.0 |
|
|
$ |
— |
|
|
$ |
24.0 |
|
|
$ |
— |
|
Nonqualified savings plan investments |
|
|
54.5 |
|
|
|
54.5 |
|
|
|
— |
|
|
|
— |
|
Cash equivalents |
|
|
195.3 |
|
|
|
195.3 |
|
|
|
— |
|
|
|
— |
|
|
|
$ |
273.8 |
|
|
$ |
249.8 |
|
|
$ |
24.0 |
|
|
$ |
— |
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Derivative financial instruments |
|
$ |
1.4 |
|
|
$ |
— |
|
|
$ |
1.4 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
1 Level 2 assets include derivative financial instruments which are valued based on significant observable inputs. See Note 12 - Derivative Instruments to the Consolidated Financial Statements for further discussion.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Oct 28, 2025 | Showing above |
| 2024 | Oct 24, 2024 | |
| 2023 | Oct 25, 2023 | |
| 2022 | Oct 31, 2022 | |
| 2021 | Oct 26, 2021 | |
| 2020 | Oct 28, 2020 | |
| 2019 | Oct 29, 2019 | |
| 2018 | Oct 26, 2018 | |
| 2017 | Oct 27, 2017 | |
| 2016 | Oct 25, 2016 | |
| 2015 | Oct 30, 2015 | |
About Fair Value Disclosures
Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.
Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.